I’m addicted to reading The Billfold

If you are not familiar with it, it’s a Medium publication edited by Nicole Dieker that talks about money in a transparent, raw and definitely non-abstract way.
There are various types of stories (interviews, reviews, guest posts etc) but my favorite by far are the quick snippets that Nicole writes that talk about her own financial situation, her goals, her attitude to money and to saving, her budget.
One regular post type which I particularly adore is where, each Friday she estimates how much money she is going to spend that weekend, and then on Monday she reports back on whether or not her estimate was accurate. It almost always is, and that is because she has the most incredible self-restraint and respect for her financial situation. She will tell you (as she did last Friday) that she is going to spend $5.75 on laundry, $5 on coffee and $70 on groceries. And she pretty much does. (The comments on these posts, where readers chime in with their estimates and then report back are also entertaining to read, in some hypnotic and voyeuristic way).
Nicole’s writing has influenced me quite a bit. Although I do not have (nearly) the same restraints, and my earning dynamics are different from hers, I find myself accounting for every dime I spend, and questioning the necessity of that expenditure. I am still very far from enforcing a strict budget, but I find myself questioning the necessity of my purchases more and more.
I think this is reinforced by my determination to clean out the clutter from my house. In line with the Marie Kondo method of owning only the things that bring you joy, I cleared out about 60% of crap from my house this past December, and have been relentless ever since. And trust me, after you have taken out bags, and bags and boxes and boxes of stuff that you spent money on but that you now cannot wait to get rid of, you think twice before buying anything else. I need to emphasize that out of all the things I chucked or gave away (and there was a lot, believe me) I have yet to miss (or even remember) a single thing.
So I have mostly reverted to the sage advice of spending money on experiences, not things. From eating out, to shows, concerts, camps quick get always and longer holidays, I certainly have no regrets about the choices I have made.
Kids don’t, of course, always share my sentiment and the six-year old especially would drown in pointless plastic crap if I let him. The 15 year old is beginning to grasp the sentiment of the “love it, or chuck it” concept, and also seems happier for it. Pointing her towards The Billfold and getting her to think strategically about money should be my short term goal.
I don’t see myself ever being as publicly transparent with my money as Nicole is in the Billfold, but I have noticed being much more transparent with myself. And the end result is less guilt, less crap and more focus on doing fun stuff. I have a feeling Nicole would approve :-)
(Writing streak: day 2)
